Ford Motor Company CEO and Chairman Bill Ford has told the company’s employees that the company must change the way it does business in order to make a turnaround.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“The business model that sustained us for decades is no longer sufficient to sustain profitability,” Bill Ford said in an e-mail to Ford employees.
Ford said he has organised his approach to solving the company’s problems by focusing on three areas: accelerating its North American turnaround effort, leveraging its global assets and leadership.
“It is important to note that all of the issues that some onlookers view as ‘problems’ for our company are issues that I view as opportunities,” he wrote.
“These should not be days of ‘fear’ for the people of the Ford Motor Company as one headline put it recently,” he wrote, adding that there was a “sense of uncertainty over specific tactics until some key decisions are made.”
He said the company was updating its business model and altering its structure to make Ford “a stronger, more competitive company.”
